FINANCIAL
Individual Retirement Annuity (IRA)
One of the best ways to save for retirement.
What are the benefits of IRAs?
IRAs are tax deferred retirement plans that help provide you with a secure financial future.
- Flexible contributions allow you to contribute when you choose.
- Contributions and growth can be tax deferred.
- You may be able to receive tax deductions on contributions.
- Available as retirement plan for non-working spouse.
Roth IRA
- Withdraw accumulated earnings from your annuity without having to pay federal income taxes*.
- Pay taxes on income that you put into your Roth IRA, but from then on it grows tax deferred.
- Upon withdrawal at retirement, provides tax-free income*.
Traditional IRA
- Allows earnings and deductible contributions to grow tax deferred.
- The maximum annual contribution is $6,000.* In addition, the maximum annual contribution amount is increased by $1,000 for individuals who have turned 50 before the close of the taxable year.*
- Flexible contribution options.
- Spousal IRA options also available.
* Based on current tax laws